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the big concern here on wall street was china. the once-booming chinese economy-- now the second-largest in the world-- is beginning to slow down. wall street is worried that the chinese government is not acting fast enough to boost its economy by injecting cash into a tight cred chinese banks have become reluctant to lend to each other. overnight, interest rates shot up by double digits according to wall street trader ben willis. >> this is a natural correction we've been looking for. we can blame it on ben bernanke, we can blame it on china, we can blame it on greece. >> reporter: but with credit tight, investors who r worried chinese consumers won't be able to buy as many goods from the west, hurting other economies. but willis remains optimistic seeing opportunity if falling stock prices >> we love this. this is what we live for when you have this kind of volatility. this is a dream for us. that's why you're in the business. >> reporter: this is when you make your money. i >> exactly. >> reporter: and with the dow rising more than 12% so far this year, stocks were selling at
the buying spree. >>> meanwhile, across the pond they are talking the global economy. the g8 summit is under way in northern ireland, but it's not all about monetary policy. cbs reporter tara mergener on the discussions expected on u.s. wiretapping and syria. >> hello, everybody. >> reporter: president obama and british prime minister david cameron visited a northern ireland school where students are learning about the g8 summit. >> i think i just went outside the lines. >> reporter: but soon, the president and his counterparts turned their attention to the global economy. >> i'm pleased to join these leaders to announce the launch of negotiations on a new trade agreement. >> reporter: the economy is not the only topic at the g8. the civil war in syria is expected to dominate talks including president obama's meeting with russian president vladimir putin. russia supports bashar al-assad and sells him weapons. putin opposes president obama's plan to give military assistance to rebel forces trying to overthrow the government calling the fighters barbarians. >> are these the people you want to
while ago about the two countries' need to work closely together for the sake of the world economy. >> germany is the largest trading partner with us in the eu so we have a profound stake in each other's success. we agree there's more work to do. not only do we have to grow, but we also have to reform our economies structurally. >> the president also took time to defend u.s. spying saying they have averted at least 50 threats and saved lives in the process. mr. obama's berlin visit comes almost 50 years to the day since president kennedy delivered his famous anticommunist speech. >>> a tree trimmer used his chainsaw yesterday in the area of golf links road and mountain boulevard. kpix 5's juliette goodrich was first on the scene and talked to the man who came face to face with a suspect. >>> reporter: >> then i see this guy over there. and he says come here. and i thought it was a cop. >> reporter: it wasn't a cop. it was a suspected carjacker hiding from the cops after a high-speed chase from san leandro to oakland. victor happened to be trimming trees in the area. >> he called me
while ago about the two countries' needs to work closely together for the sake of the world economy. >> overall, germany is our largest trading partner in the eu so we have a profound stake in each other's success. we agree that there's more work to do. not only do we have to grow, but we also have to reform our economies structurally. >> the president also took time to defend u.s. surveillance programs saying they have averted at least 50 threats and saved lives in the process. mr. obama's berlin visit comes almost 50 years to the day it was june 26th, 1963, when president kennedy delivered his anticommunism speech with the well known phrase, "ich bin ein berliner." >>> house republicans want to make it a federal crime to be in the u.s. illegally. a republican-based house economic voted yesterday to pass a bill boosting criminal penalties against anyone who is not a citizen. republicans say the bill is necessary to uphold enforcement of the law. democrats say it's too dangerous and are especially disappointed as the senate plans to work on an immigration bill to provide citizenship
with a sushi competition, how it highlights a multi billion dollar contributor to california's economy. >>> lawmakers put their sushi making skills to the test in sacramento. the capital roller competition is a celebration of the rice industry that contributes $2 billion a year to the economy. she made the best sushi roll. >>> mark is here now with sports. giants took care of business today. >> you could almost see this coming, last night, one of the padres hit a home run. and if you saw the game yesterday, you know what i am talking about. he comes to the plate today. madison bumgarner says hello. pitch behind him. the two exchange words. and he is like come on, let's go. let's go. benches empty. no punches thrown that i could see anyway. they settled things things down. that is revenge. deep he goes. doing his talking with his bat. that home run had the padres up 2-1 in the 7th. bottom of the 7th. two on. blanco, showing up in the highlights just about every day since pagan came down with an injury. that is a two run triple which puts the giants ahead for good. 4-2 final. the giants
and nearly two-thirds of americans operate the current economy as the poll also indicates a positive trend. the number of those who break the economy is good has grown steadily since the end of last year of nearly 10% from last december. overall, optimism that the economy will improve is split almost down the middle. 50 percent predict that they wthey will be better off a year from now, 49 percent say that things will get worse. >> if you are thinking about starting a business, california just might be the state for you. according to the kaufman index of entrepreneur or activity a list of 10 states saw more startup activity that anywhere else nationwide. here is a look at the top five. montana, a vermont, new mexico, alaska, and mississippi. coming in at no. 6 is california. in 2012 the state had a start rate of 410 per 100,000 adults. the kauffman index access that california as a major advantages including a strong talent base, an established network of venture capital, a big consumer market, and top- ♪ [ male announcer ] wouldn't it be great if all devices had backup power? the chevro
: investors say the storm is, in part, because of some good news about the economy. last month, employers added 175,000 new jobs with unemployment expected to fall below 7% next year. existing home sales are also picking up, posting their best month in 3 1/2 years. but recovery from recession mean he is the federal reserve could pull back on its stimulus pro, which has pumped billions into the system to help drive growth. >> our economy is getting better and now it's time for us to see how we can do it on our own. >> reporter: potential shift by the fed has shaken some investors who feared the economy is not as strong as it seems. some also worry record low interest rates could disappear. already, mortgage rates have climbed above 4% for the first time in a year. market watchers say the volatile week is a sign of coming deterrence with the new reality. >> once we get through that period, i think we are going to realize that we are going to be okay and things will get back to normal. >> reporter: now, financial advisers say the best advice for average investors not to panic, to stick it ou
national security but invests in the economy. it's more about who we are. i'm very hopeful. >> senators get back to work on capitol hill behind me in this 15 minutes. we expect to hear from senator reid. back to you. >> joe biden is one in the immigration leading the charge for this. >> it's time to provide a fair, reformed unfettered pass to citizenship for $11 million undocumented immigrants. >> he spoke at a awards banquet in las vegas and says this is part of the future of america. >>> and san francisco state senator leland yee will hold a news conference in support of immigration reform. he will unveil a measure that pardons 11 million immigrants and branses them similar immigration rights as same-sex couples. >>> a new volunteer center has been launched for sierra lamar. they've moved to central high school. it used to be at burnett elementary. sierra's father, steve, made the move will allow volunteers to rico -- refocus on finding her. now, antolin garcia-torres has been charged with her murder. >>> a shooting happened about 10:00 at 6th and natoma. the victim was shot twice but is
of eight summit is supposed to center around europe's ailing economy. but as cbs reporter susan mcginnis reports another topic is expected to draw attention. >> reporter: president obama left air force one holding daughter sasha's hand. for the next two days, he will meet with world leaders here in northern ireland which he sees as an appropriate place to talk peace. >> beyond these shores right now in scattered corners of the world there are people living in the grip of conflict. you're their blue print to follow. we're the proof of what's to follow. >> reporter: russian president vladimir putin says president obama's plan to arm rebel fighters who he calls barbarians will hurt the chances for peace in syria. >> are these the people you want to support? are they the ones you want to supply with weapons? >> reporter: president obama and president putin are scheduled to hold private talks this afternoon. the conversation comes after a new report reveals the u.s. and the uk spied on russia and others at another summit. the british newspaper the guardian says former nsa contractor edw
not a lot of people who wanted to take down dams. with the bad economy there is not a lot of money to pay for it. this project is goingó[ to jump-start this movement again. it's closely watched by engineers andçó biologistshnoun the country. >> it'st(çó obsolete.é@ if you have an old car or "tclding, after a while there is only so many times you canqxd k fixing it before you need to buy a new one. this dam was built when warren g. harding was president, 92 years ago. overtime the dams silt up behind them. that comes down thejf river and help replenish beaches gets stuck and the water gets fullq up. this reservoir!u is 95% full. a bunch of dirt and filled it almos4ñá alljf the way on and t ont( the water, you only store bit of water. it's useless. statet( engineers said in an earthquake it could collapse. if it collapsed, the amount of mud and sand behind that can fill 250,000 dump trucks. it would kill everything in the river and take out about 1500 houses. >> how are they going to get rid of itfá all? >> it's lpÑiinteresting. th the bottom withxd dynamite andw press the plun
the current economy as poor. but the poll also indicated a positive trend. the number of those who rate the economy as good has grown steadily since the end of last year of nearly 10% from last december. overall, optimism that the economy will improve his split almost down the middle. 50 percent predict they will not be better off a year from now, 49 percent say things will get worse. dunkin donuts is going to look in freeing--gluten free. sort of. the breakfast chain says it plans to offer gluten-free cinnamon sugar doughnuts and blueberry muffins by the end of this year. gluten is the major protein found in grant like wheat, barley and rye, as well as in some deli meats and other packaged products. for people with a condition known as celiac disease about 1% of the population, even small amount of gluten can prompt severe discomfort. the house is preparing to vote on whether to cut federal lee subsidized crop insurance that helps farmers when they lose crops or revenue. --federally subsidized. the amendment would limit government help for crop insurance paid to what the farmers and al
be. >> the study found a new ballpark on could pump $130 million a year in the economy. the mayor is considering legal action in the past but they have deferred to the principal owner of the a's. he a fraternity brother of bud selig and stuck to the idea of stick to the process. three-quarters of the team must approve the move into giant's territory. and selig made a committee to review that move but one of the members of the committee was corey bush, vice president of the giants. >> bud selig appointed a commission to look at this very proposal that you just mentioned, not once one, two, but four years ago to study the situation. >> reporter: he believes major league baseball insends tends to study the issue forever and hence the lawsuit. that is why san jose is filing. we'll be calling on mayor chuck reed and contacting the giants to get the latest on the story. >>> before you go. major league baseball has an anti-thrust exemption. doesn't it allow them to set their own rules on the come pe contingency? >> major league baseball thinks it does but it dates back 91 years. it comes
-thirds of americans rate the current economy as before. the poll also indicates a positive trend: the number of those who rate the economy as good as ground steadily since the end of last year-up nearly 10% from last december. overall, optimism that the economy will improve is split almost down the metal. 50 percent predict they will be better off a year from now, 49 percent say things will get worse. >> if you think about starting a business, calif. just might be the state for you. according to the kaufman index of entrepreneurial activity and a list of 10 states saw more start of activity than anywhere else nationwide. here is a look of the top 5- montana, vermont, new mexico, alaska, and mississippi. coming in at no. 6 is california. in 2012, the state had a starting rate of 410 per 100,000 adults. the coffin index says that california has major advantages including a strong talent base, an estimatestablished network of venture-capital, a big consumer market, and top not to private and state research schools. a government analyst says the merger of american airlines and u.s. airways would reduce c
later this year if the economy continues to improve. >> a choppy volatile summer. i would expect us to end the summer below or where we are now. >> many investors say the sell- off, what they always say, an opportunity to buy discounted shares. >>> in less than an hour thousands will kick off the susan g. komen three-day walk for breast cancer cure. this will be the last such walk here in the bay area. kpix 5's sue kwon joins us live from the starting line in corte madera with that. >> reporter: bright and early people lacing up ready to go in their hot pink getting ready and registered for open ceremonies to begin around 7 a.m. this is going to be a three-day walk. 20 miles today goes through the presidio where they will camp out tonight. all in all going about 60 miles. as you mentioned this is the last event in the bay area. the charity has canceled half of all its three-day walks including boston, chicago, tampa bay, washington, d.c. and her in the bay area and the reason why? they cite low participation, economic uncertainty, and a low donation rate. but, you know, this also
pumping into the economy to lower interest rates, encourage borrowing and improve the labor and housing market. when he mentioned that investors knew it couldn't go on forever. hearing it caused a knee-jerk reaction. they thought he's not quitting cold turkey. unemployment needs to improve a little bit more and needs to be more growth in the economy. >> you talked about interest rates. that's a major concern for people, not just when it comes to mortgages, but student loans as well. >> everything you do is tied to the interest rate whether you like it or not. whether you have an existing loan or taking out a new loan. if you have a variable rate those could go up in the near term. they change with the market. if you have a fixed rate loan it stays the same. if you are taking on a new loan make sure you look closely at your mortgage. new mortgages, they also move with the market. we are seeing a 30-year fixed at nearly 40%. it's climbing. if you want take out a new mortgage, it's narrowing. credit cards, student loans, auto loans, other types of debt are tied to the f
of next year which would mean the bond tapering to begin later this year. that depends on the economy doing well enough for the fed to do that. and stocks sold off big time dow down over 200 and overseas markets selling off, gold selling off. the 10-year note up about 2.4% a year and a half high. expect mortgage rates to head higher. mortgage rates are tied to the 10 area note. they have been on the rise of late. freddie mark reports this morning. as far as the economy is concerned a number of reports on that again today and the labor department says first time weekly unemployment claims rose to 354,000 within the range of job growth. if the economy is stumbling along, that is going to force the fed to continue its current quantitative easing plan. it's a perverse way of looking at things. it's a rough start today. dow down 134. nasdaq down 31. s&p lower by 14. michelle and brian, back to you. >> thank you, jason brooks. >>> the key players are still say very little bit ousting of men's warehouse founder and pitchman george zimmer. >> you're going to like the way you look, i guarantee
trade and economy. but because some of these countries disagree how to handle the blood shed in syria, that situation is expected to be a top priority. sadly puten is very outspoken -- vladimir puten is very outspoken about president obama's plan. the two are expected to talk privately. a new cnn poll shows that president obama's approval rating has taken a dive. last month, 58% supported president obama. now just 45% of the job he's doing. that's an 18-month low. we'll take a closer look at president obama's schedule for the remainder of the g8 summit when i see you next. kyla campbell, ktvu channel 2 news. >>> david cameron is among those attending the summit. this morning he refused to comment hon a hacking scandal -- on a hackle scandal involving the government. the newspaper there reported that britain's spy agency hacked into e-mails. >>> this morning, the white house is also defending the nsa's secret surveillance program of phone and internet records. white house chief of staff denis mcdonough says the program is constitutional and carefully monitored. he also says the u.s. go
-- to have fuel economy, of getting free coatings on there. >> today's event hit a small bump when one of the brand new bases with the mayor and other transportation officials mall functioned. the bus wasn't movings so the mayor and everyone else had to get off and wait for another bus. >>> spending most of the day finding homes for three abandoned dogs. this one of the dogs was tide up. the other two were just running loose. he says someone apparently just left them at the park overnight. >> i was mad. i was sad for the fact that somebody could leave dogs out there like that. why even have them if you can't take care of them. >> he says he has found homes for two of the dogs and is hoping someone would take the smallest dog. visit hour ktvu facebook page. we have more information for you there. >>> another lawsuit has been filed to block the state's water management plant for the if delta. that plan calls for two huge tunnels to be built to move water to the central valley and southern california. three other lawsuits have already been filed by groups opposed to that plan. the latest
ballparks when it comes to popping some serious cash into the local economy this, is a live look at fans headed tonight to the evening's game at the giants ballpark. since the giants move there in 2000. >> abc 7 news was the first media outlet to report on this lawsuit. mark matthews sent the first tweet you can follow mark on twitter. and we're tweeting around the lock. >> -- clock. >>> a union city family's dog has killed a family member. he was playing yesterday when the dog just attacked. family members say the boy may have tried to climb onto the dog's back. the dog sk held for 10 days in a shelter, authorities have not yet decided whether they will put it down or try to rehabilitate the animal. >> the naked man seen on video had a day in court today. his friends say he needs mental health services. not jail time. abc 7 news has the story. >> the 24-year-old sat listening to a spanish interpreter explain charges against him, he's the naked acrobat attacking passengers at the 16th and mission bart station. >> i spoke to him, he's very, very depressed. crying. >> it's part of a troop
wage to $8 an hour. proponents say it will help the economy as minimum wake workers will have more money to spend. earlier this year in san francisco they raised their minimum wage. >>> have you heard about it? a way to raise money online, often for a particular project to a lot of little donations. >> one turned to crowd funding to help improve their building and ended up with not just money but some surprising attention. garvin thomas has their story tonight. >> reporter: for all the great work that they have done for the past four decades, they do keep a relatively low profile. a lot of that comes for the personal of their director michelle clark. she says she's more steak than sizzle. in tonight's bay area crowd she gets credit for both. >> so you need to know i do this all the time. ask michelle clark how one gets to washington, d.c. and she'll take you up on the roof. sha being the best place, of course, to put solar panels. in this case the panels that power the building, that houses the youth employment partnership at the corner of 23rd and international boulevard in oaklan
business issues. the possible move south could pump $130 million in san jose's economy. the numbers have sounded good to the owners. >> i think we would benefit as well as all of the businesses if there there was more to do and see. >> the giants had no comment on the lawsuit. in san jose, lisa amin gulezian, abc7 news. >> a's fans in oakland are not in favor of the team moving south. neither is mayor gene quan. >> they may have lawsuits, but we have fights. i have been saying to major league baseball that we are ready. let's play ball. >> we are east bay. no way going san jose. >> the oakland coliseum ranks as one of the worst in baseball. a a couple of days ago faulty pipes dumped sewage into the team locker room creating a real mess. >>> we are getting a lot of comments on our facebook page about this story. if you would like to join the conversation we would love for you to do that. go to facebook.com/abc7 news. always glad to hear from you. >> the reward to help find a killer after a traffic accident last week increased to $theater,000 today. to $30,000 today. he was gunned down aft
to solve the issue. it could pump $17030 million in san jose's economy. >> eric: and we were first to break the story on twitter. you can get breaking news alerts any time. follow us at "abc 7 news" bay area and we have been getting reaction on facebook. share your opinion there. >> kristen: crews are in fairfield around a grass fire that spread to a motel. it started arnd around 6:45. it spread to a roof of a motel 6 and a row of palm trees outside a motel. firefighters say everyone was evacuated before motel rooms were damaged. >> it was pretty close, five to ten feet away. >> open the door and smoke came in and ambers were everywhere. it looked like a big firestorm. >> eric: the flames also got close to a gas station with about 30,000 gallons of fuel. fire trucks rolled just in time and put out the flames feet from the gas station. >> eric: bart police chief is set to announce she bringing in a national auditor to assess the reforms imposed since the shooting of oscar grant. he want to make sure bart police get increased visibility and provide proper training. oscar grant was shot and ki
bond buying program later this year if the economy continues to improve. the rifely between the biggest social media. the newest feature for instay gram and how crucial it is to come up with the next big thing. instagram isn't just about photos anymore. the popular photo sharing company announced its millions of users can shoot and share 15 second videos and colorize them for dreamy or dramatic effect. but the biggest innovation is cinema, which takes the shake out of your shots. >> this is the normal video, and this is sin ma, gorgeous video for your iphone. this is thoriginnal, and this is with instagram. >> facebook hinted something big was coming and it needs a hit. its rival social network has a new app, which lets users upload six second clips. >> makes sure it had a hole on its competition. we needed to play catch up with twitter. thanks to the popularity, facebook had to up. now things have gone nuclear, that's due to the explosion of mobile devices. >> it depends on what your friends are using. >> updating status all at once. >> favorite social media at the moment. >> tw
buying program if the economy continues to improve. >> i think we'll have a choppy volatile summer. i expect us to end the summer below or at where we are right now. >> it's an opportunity to buy. buy low. sell high. the stock market is still up. double digits for the year. >>> the fbi has a guy on the most wanted list. he hasn't murdered anyone on blown anyone up. he's wanted for mail fraud. bruce lee marshal has been on the run since may 17th. he's charged with tricking a former employer into paying $100,000 for contracting work with a fake company he invented. >> in this particular instance, he portrayed himself as being able to set up a company that could provide services to a start up company, when in fact it appeared that he did not provide what he said he could provide and was paid for much of those services. >> he's 5-10 with black hair and brown eyes. he's trying to find a job as a software engineer in the san francisco or san jose area. >>> coming up, an infamous bay area killing comes to life on the big screen. the red carpet debut in the city where it all went down. >>> se
off it's aggressive policies to keep the interest rates low now that the u.s. economy is doing better. taking a live look at the big board, the dow is back in positive territory. right now it's up 74. the nasdaq is down 6 and s&p up 7. >>> a breakthrough on immigration reform means a vote could be just three days away. as kyla campbell reports from our washington, d.c. bureau, senate democrats are offering republicans what they've been asking for including beefed-up border security. >> reporter: harry reid believes this border surge will be strong enough to win over republicans in the house. he wants the senators to vote on monday but not everyone is on board. >> we finished here late last night. we had a lot of issues that were unresolved then. we have just a couple of this morning. >> we're told today now we're going on 11:00, that we still will see today a magic amendment, the amendment to fix everything, that we can just relax and go home. >> reporter: they are adding finishing touches that includes doubling more than -- more agents and giving more high- tech equipment. the deal i
actually be the local economy that is gearing up to welcome a lot of fans. >> good afternoon. thank you for calling. how may i help you? >> if you are looking for a room in novato, don't bother calling here. rooms have been booked for months by fans with a need for speed. nascar weekend is huge for north bay hotels. robert marshall says he starts planning in january. >> nascar brings 100,000 people with that. there are not 100,000 rooms in marin county. it fills up all of marin county and most of sonoma county and even into vallejo. >> next door ricky's bar and grill stopped taking reservations for this weekend last month. this nascar driver made a pitstop here before the big race on sunday. >> without the fans we wouldn't be doing this. we really uh proash yait the fans coming out to watch. it is special to come out to the sonoma rase way. >> this is like christmas in june. people travel and they have this date on their calendar all year long. >> fans who want to be close to the action have camped out across from the race way in this virtual city known as 50 acres. they have made the t
enthusiastically taking a lead role, but the economy and sequestration have done a number on the funding delaying plans. so is the 2018 opening date realistic? >> i think that's a reasonable target date but i guess i would make that a pretty soft date. >> reporter: but nothing worthwhile is easy. this is a vote of confidence in richmond's future and just as important, the children. there are plans to expand the university and lab's involvement in the schools. so one day, richmond's children can aspire to be the scientists at this site. >> they will now have something that represents more of the future than their proud past and we're very proud to be part of that. >> reporter: there will be a community meeting tomorrow so that the lab at the university can tell the public their long range plans and the public can weigh in. we are expected to hear some concerns about traffic in the surrounding area. but allen, unlike many, many projects throughout the in the past, here, people -- throughout the bay area in the past, here people want to see it done and are working together. >> thank you. >>> by the
the overall economy. chairman ben bernanke said it will slow its bond buying stimulus program this year, and end it next year. he said this is possible, because the economy is improving. the fed's program has kept interest rates at record lows. that news from the fed sent the stock markets down across the board. one analyst said any suggestion that the fed will cut its buying is going to be met with a sell-off, which is just a sign of how much investors depend on that program. >>> are you better off now financially? many americans say no. a cnn poll has found 44% of americans say their financial situation is actually worse today compared to a year ago. 36% say they are better off, and 20% say their personal situation is just about the same. only half say they expect economic conditions to be better one year from now. >>> bay area doctors may soon change the way they treat obesity, because of one word, ktvu's heather holmes is live now in oakland with reaction to obesity, now labeled as a disease. >> reporter: the head of the bariatric program here hopes this sends a message, not only to
about every one of us. fed chairman ben bernanke expects the economy to grow and unemployment to fall. but he also signalled today that years of low interest rates that have made it easy for companies to invest and families to buy cars and homes may soon be ending. the dow dropped more than 200 points on that news. the nasdaq dropped almost 40. ton, abc news reporter rebecca jarvis explains what that means to the average american. >> david and sara turn bull are looking at homes in newbury park, california, for their expanding family, hoping to take advantage of record low interest rates. >> because we're at a time where we can buy, we would ideally like to lock in an interest rate. >> but in the last six weeks, interest rates have started climbing. mortgages now above 4% for the first time in a year. up more than half a percent since may. >> people are really thinking that makes a big difference in my monthly payment and what i can afford. >> every 1% increase in mortgage rates makes owning a home about 10% more expensive. >> i like that. >> in real terms, when rates rise a percent,
efforts on signs of a strengthening economy. what's behind that move to higher interest rates and rising interest rates from the head of wells fargo telling cnbc that it's okay if rates rise as long as it happens because of improvement in the economy. that could hurt the housing market. no sign that's happening yet. home prices may were up 5.5% from a year ago with some of the biggest price increases in san francisco and san jose. now, we did get a report on may home sales from the national association of realtors here in a few minutes. we're seeing stocks down this morning. so we are extending those losses that we saw yesterday with the dow at the moment down 135 points and the bloomberg silicon valley index also trading lower. live at the new york stock exchange, i'm jane king, bloomberg news. >> 6:49. all right. i've been complaining a little bit. i don't want to. having to take benadryl and allergies. >> with warmer weather it's going to bring it in full steam. >> misery loves company. i don't want anyone else to suffer. >> good morning, everyone. don't see any clouds out there. no f
. that industry is thriving with a rebounding economy. people have more money to travel and to eat out. >> the sun is starting to come out on the california economy. ronald reagan another area of job growth lies in big city construction. if that job growth stays stable in the construction industry, in alameda, jade hernandez, ktvu news. >> >> more details on the unemployment rate in the area -- . >>> berkeley's world famous restaurant preparing to open its doors to the public for the first time since a fire badly damaged that restaurant in march. tonight, it opened for a fund- raiser to benefit the berkeley based edible school program. it's a program that shows local kids how to grow, harvest and prepare seasonal produce. >> this is more than a rebirth. it's kind of a reinvasion that i think will keep us going for many more years. >> the fire was caused by an electrical program underneath a porch. it did more than $200 thousand worth of damage. it has been repaired and it is going to reopen on monday. >> >> facebook said the cause of a bug was purely technical. the problem is with the tool called
bill would help the middle class boost the economy and shrink the deficit. >> according to this independent report. reforming immigration would reduce our deficit by almost a trillion dollars over the next decade and help the economy by over 5%. >> the president adds the bill is not perfect and it is a compromise, but it is consistent with his principles. caltran has just released documents showing there were quality control problems with hundreds of steal rods installed on the new span of the bay bridge. the rods were improperly treated with brake cleaner and an in approved product. it caused them to become bridle and dozens cracking in march. officials say they won't make a decision until july whether the bridge will keep their scheduled labor day weekend opening. >>> bart is marking ten years since it began service to the san francisco international airport. the transit agency said it has served more than 30 million passengers since the extension to sfo opened in june of 2003. he said ridership continues to gain stream with a 27% increase over the past four years. the
budget office immigration built would help the middle-class, boost the economy and shrink the deficit. >> according to this independent report, reforming our immigration system would reduce our deficit by trillion dollars and boost our economy by 5% because of investments made and technologies invented by immigrants. >> the president adds the bill is not perfect and compromised and consistent with his principles. >>> new details this morning caltrans has just released documents showing there were quality control problems with hundreds of steel rods installed another o the new span of the bay bridge. they reveal the rods were improperly treated with brake cleaner and unaproved product. it caused them to go brittle that led to cracking back in march. they are working on fix for the problem. they will not make a decision until july on whether the bridge will keep the scheduled labor day weekend opening. >> new this morning, bart is marking ten years since it begin service to san francisco international airport. they have served more than 30 million passengers since the extension opened i
the economy and shrink the deficit. >> according to this independent report, reforming immigration would reduce our deficit by almost a trillion dollars over the next two decades and it will boost our economy by more than 5%, in parts because of businesses created, investments made and technologies invented by immigrants. >> the president adds the bill is not perfect and it is a compromise, but it is consistent with his principles. >> new details this morning. caltran has just released documents showing there were quality control problems with hundreds of steel rods installed on the new span of the bay bridge. the rods were improperly treated with brake cleaner and an in unapproved product. it caused them to become bridle and dozens cracking in march. officials say they won't make a decision until july whether the bridge will keep their scheduled labor day weekend opening. >>> bart is marking ten years since it began service to the san francisco international airport. the transit agency said it has served more than 30 million passengers since the extension to sfo opened in june of 2003.
topic at the g8 summit. the meeting is supposed focus on the global economy but a number of big international issues will be on the table. >> protestors demanding action placed white tom stones in belfast. >> we need g8 leaders to get behind a political solution to the crisis. i'm not for more weapons that. will only add fuel to the fire. >> president obama and russian president vladimir putin sat down to discuss the can crisis in syria at their first face-to-face meeting this year. >> we share an interest in reducing the violence. >> president obama signed off on u.s. military support for the rebels fighting to over throw the syrian president. putin is on the other side of the 2-year-old civil war, backing asad. >> complicating relations between russia and the white house are new disclosures from nsa leaker edward snowden that the u.s. intercepted russian communications during a previous summit. >> talk of spying and syria over shadowed news about what could be the world's largest trade deal. >> i'm pleased to join these leaders to announce the launch of negotiations on a new t
nervousness about what exactly the implications are. at root it's the fed's assessment that the economy's on firmer footing that is behind this guidance. >> do you think they're overestimating the strength of the economy? >> it's hard to say. there is very good evidence because the housing market has gotten some momentum. the auto sector is doing well. weep we've had steady if not strong gains in jobs. there was also a perception, a the fed is often kind of overestimated how strong the economy is going to be in the past couple of years. and also there was sort of a sense that ben bernanke the chairman, had an opening to be much more soothsing because inflation remains very low and he could have had an out by saying the sequester means the government is not helping the recovery out. >> the reason the average consumer should be interested in this is because it affected interest rates. >> it already has. we've already probably seen the lows in mortgage rates for the time being. so yes, that's the most immediate impact. >> the idea behind it on terms of what berna
of the volatility is the result of good news. the 350-point plunge comes just as the government says the economy is getting better. everything from housing to jobs, to consumer spending, all showing improvement. so, why would wall street run scared from such good news? experts say, it's all because fed chair ben bernanke, basically our country's banker in chief, now wants to take the training wheels off our economy. saying because things are looking up, it's time to dial back on trillions of dollars the fed's been pouring into the markets. >> we've had training wheels on for quite some time now. and now, we're getting word that they're going to have to come off slowly. and we have to see if we can ride this bike on our own. >> reporter: but riding without that help means the cost of borrowing money to do everything from buying a house to starting a business is going up. and that spooks the stock market. and staying on that training wheels theme, traders here on wall street aren't afraid we're going to crash into a wall when the wheels come off. what they're concerned about is things could get wo
for the final group photo. although the focus was supposed to be the world economy, the crisis in syria stole the spotlight. the u.s. plans to army rebels in syria while russia supports the present government. >> we want to try to resolve the issue through political means if possible. >> including by bringing the parties to the negotiations table in geneva. we agree to push the parties to the negotiations table. >> other topics up for discussion include deterring kidnappings of foreign workers in africa and cornering globe trotting corporations into paying more taxes. >>> a scary ride for passengers on a united flight from hong kong to newark, new jersey. they were more than halfway into the 15-hour flight when a man started ranting about national security, the cia and international spying. he also claimed he and everyone else on the plane were poisoned. the crew and other passengers decided to subdue him. >> a few of us jumped on him, put him on the ground with the help of a few passengers and flight attendants. we were able to handcuff him. >> the fbi met the flight in newark and took the m
'll explain when they might start to do it and what will happen if the economy stumbles after that. the market has rallied big time the first two days of this week. back-to-back triple-digit gains by the dow jones. let's look at the big board see how we're doing this morning. market pulling back a little bit ahead of the fed announcement. dow dropping about 40 points. nasdaq and s&p each lower by about 4 points. netflix shares up 2%, tesla up 1.5%. >> thank you, jason brooks from kcbs news. >>> the republican led house has passed an anti-abortion bill. the measure restricts abortions for the first 20 weeks after conception. it's almost certain to fall short in the democratic-led senate. the white house has issued a veto threat. but it will have political impact in next year's republican primaries and future court battles challenging the 1973 supreme court decision affirming abortion. >>> breast cancer survivor melissa etheridge is commenting about angelina jolie's decision to undergo a double mastectomy. in an interview she called it a fearful choice. the rocker revealed she too has the same g
. >>> 6:26. coming up not just the economy. the top issue facing world leaders at the g8 summit. >> plus, hundreds evacuated into the streets of san francisco. the cause and will it impact business this morning? >> reporter: i'm linda yee in pacifica. she's only 10 years old, but she was able to punch her way out of an attempted kidnapping. i'll have her story. ,, ,,,,,,,,,,,,,,,,,, >>> in this case it seems like we had a tough little girl who hand herself very well. >> a man 6 feet tall approached the 10-year-old and said come with me. >> crews are going from address to address restoring service following a gas main break. >> we saw the bomb squad. we didn't know what's going on. >> president obama is in northern ireland to meet with world leaders at the g8 summit. syria is not formally on the docket but is expected to dominate the talks. >> there are very big differences between the analysis we have of what happened in syria and who is to alabama. >> we have a long road here. i don't want to create a long belief that tomorrow everybody's going home because that's not going to happen. >
in san francisco that want to find space, vehicles, tools, and everybody in the sharing economy saying, we can actually plan with you and not wait for disaster to hit. >> reporter: hurricane sandy last winter was the wake-up call for new york. >> the oceans are warmer so we would expect more storms and we have to be ready for that. we have 450 miles of coastline in new york city. and we need a lot of technology to figure out how to protect from waves, from high water, from winds and that kind of thing. >> reporter: and both mayors say they hope to reach their goals by having this high-tech summit. the first one will be in new york city this fall. the second part of that summit will be held right here in san francisco early next year. live in san francisco, linda yee, kpix 5. >> nice to see we have finally bridged the uhuru. there are 600 san francisco- based technology companies that already work together to help solve city problems such as education and immigration issues. >>> a trip to hawaii that turned into the ultimate vacation nightmare. on the consumerwatch, julie watts with a
.s. economy. stocks had rallied earlier in the day. here are the closing numbers. the dow lost 105 points. the nasdaq fell 21 points. and the s-and-p 500 dropped 9 points. >> pam: a completey solar- powered airplane is slowly making its way across the country. the "solar impulse" took off from st. louis this morning. >> pam: made aircraft is the first plane to fly for 24 hours on nothing but solar energy. the planes huge 208- feet wing's have built-in solar panels that store energy during the day. enabling it to fly at night. like you see here. you may remember. the solar impulse started its cross- country trip here in the bay area. it took off from moffett field in mountain view on may third. the plane flies at a speed of about 40 miles per hour. and carries only the pilot. the plane is now on its way to cincinnati. it will then continue on to washington. before eventually ending the journey in new york. >> pam: take a look at this! for one florida teenager. what started as a relaxing fishing trip off the florida coast quickly turned into a once-in-a-lifetime experience. last saturday. 3
:00, find out how bay area politicians are focused on keeping the american economy competitive while making sure our job force stays strong. that's the news at 6:30. we'll see you at 11:00. the latest news and weather are always on our website, kpix.com. captions by: caption colorado comments@captioncolorado.com ,, ,,,,,,,,,, [ female announcer ] life is full of compromises. but when it comes to what your family really loves, you shouldn't have to sacrifice. and that goes double for ice cream. now you don't have to give up. you can give in with dreyer's slow churned light ice cream. we churn it slowly for all the rich and creamy taste with just half the fat. ♪ dreyer's slow churned light ice cream. ♪ nestlé -- good food, good life. >> an all new eye on the bay starts now in hd. >> this edition of eye on the bay is sponsored by oakland zoo. >> new york got to get away guid
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